India, July 2 -- India's food delivery and quick commerce market has become one of the most closely watched spaces in the stock market. The opportunity is big because urban consumers are ordering food, groceries and daily-use items more often than before. But the business is also expensive to build because companies have to spend on delivery partners, discounts, dark stores, technology, marketing and customer retention.

This is why Eternal and Swiggy are being judged very differently by the market. Eternal is trading around Rs. 260-280 levels with a price-to-earnings ratio of nearly 728 times. Swiggy, on the other hand, is trading around Rs. 235-250 levels, far below its December 2024 high of Rs. 617, which means the stock has corrected ...